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Manila Bulletin devider Business devider The Stock Market devider Lucio Co's Cosco Capital declares P1.41-B cash dividend

Lucio Co's Cosco Capital declares P1.41-B cash dividend

Published Dec 17, 2023 08:27 pm

Tycoon Lucio Co’s retail holding firm Cosco Capital Inc. has set a new dividend policy while announcing cash dividends amounting to P1.41 billion.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said its Board of Directors has laid a new dividend policy with at least 20 percent payout ratio of core net income of the previous year being returned to shareholders in the form of cash dividends.

Lucio Co.jpeg
Cosco Capital Chairman Lucio Co

The Board of Cosco also declared dividends of P0.197 per share payable on Jan. 23, 2024, to shareholders of record at the close of business on Jan. 2, 2024. 

This dividend represents a 3.6 percent year on year increase in annual cash dividends declared versus the previous year. While the current dividend yield amounts to around 4.38 percent.

Cosco has paid yearly dividends to its shareholders without interruption since its public offering in 2013.

Two publicly-listed subsidiaries of Cosco, Puregold Price Club Inc. and The Keepers Holdings Inc., have also declared cash dividends with a combined value of P3.91 billion.

Puregold said its Board of Directors has announced a 30 percent payout ratio of core net income of the previous year being returned to shareholders in the form of cash dividends totaling P2.79 billion.

This amounts to P0.97 per share payable on Jan. 18, 2024, to shareholders of record at the close of business on Dec. 27, 2023.

This dividend represents a 13 percent year on year increase in annual cash dividends declared versus the previous year. While the current dividend yield amounts to around 3.7 percent.

Puregold said it has paid dividends to its shareholders without interruption since being publicly listed in 2011.

Meanwhile, the Board of Directors of Keepers announced a 50 percent payout ratio of core net income of the previous year being returned to shareholders in the form of cash dividends totaling P1.12 billion.

This amounts to P0.077 per share payable on Jan. 18, 2024, to shareholders of record at the close of business on Dec. 27, 2023.

This dividend represents a 41percent year on year increase in annual cash dividends declared versus the previous year. While the current dividend yield amounts to around 5.3 percent.

Keepers has paid dividends to its shareholders without interruption since its Follow-on offer in 2021.
 

Related Tags

The Keepers Holdings Inc. Puregold Price Club Cosco Capital Inc. Lucio L. Co
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